California Public Employees Retirement System lifted its holdings in ON Semiconductor Corp (NASDAQ:ON) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,080,706 shares of the semiconductor company’s stock after buying an additional 28,421 shares during the quarter. California Public Employees Retirement System’s holdings in ON Semiconductor were worth $22,630,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of ON Semiconductor in the fourth quarter valued at about $101,000. BB&T Securities LLC bought a new position in shares of ON Semiconductor in the third quarter valued at about $187,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of ON Semiconductor in the third quarter valued at about $200,000. Ifrah Financial Services Inc. bought a new position in shares of ON Semiconductor in the fourth quarter valued at about $208,000. Finally, Prospera Financial Services Inc bought a new position in shares of ON Semiconductor in the fourth quarter valued at about $224,000. 97.99% of the stock is owned by institutional investors and hedge funds.
ON has been the subject of a number of research reports. Credit Suisse Group lifted their price objective on ON Semiconductor from $14.50 to $17.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of ON Semiconductor in a research report on Tuesday, December 19th. Vetr lowered ON Semiconductor from a “strong-buy” rating to a “buy” rating and set a $25.52 price objective for the company. in a research report on Wednesday, January 10th. ValuEngine lowered ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Jefferies Group lifted their price objective on ON Semiconductor from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. ON Semiconductor currently has a consensus rating of “Buy” and an average target price of $23.99.
ON Semiconductor Corp (NASDAQ ON) opened at $23.56 on Wednesday. The stock has a market capitalization of $9,990.00, a PE ratio of 12.53, a PEG ratio of 1.06 and a beta of 2.08. ON Semiconductor Corp has a 12-month low of $13.65 and a 12-month high of $25.60. The company has a current ratio of 1.97, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20.
ON Semiconductor (NASDAQ:ON) last posted its earnings results on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. ON Semiconductor had a return on equity of 23.64% and a net margin of 14.63%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. equities research analysts predict that ON Semiconductor Corp will post 1.73 earnings per share for the current fiscal year.
ON Semiconductor Company Profile
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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